Category: economics
05/20/08 12:51 - ID#44396
opposite ends of the spectrum
So on one end we have the average people succuming to slavery by the banks and on the other we have the Uber Capitalists. They're kind of the people that (e:hodown) sees on a daily basis in NYC.
Yes, it's long but it does show the pinnacle of what everyone is striving for in the New York Metro Area. Those are the people everyone wants to be or pretends to me at least in their mind. It's kind of ironic that the financial "products" that some of that crowd came up is the fuel that indirectly is helping us burn $4 gas in our cars. To me it's kind of shocking to see the people that can burn though cash like it's nothing be Neanderthals. Since it always that the higher class of people the more civilized or gentrified, but in reality the ultra wealthy may have always been this way, we just never saw it on TMZ.
In the end we need to tilt ourselves to the left, a la FDR style.
We are going to have to turn to civic sacrifice to turn things around for everyone as the decession deepens. That means higher taxes on the corporate/hedge fund crowd & all sorts of other middle class building initiatives.
Permalink: opposite_ends_of_the_spectrum.html
Words: 380
Category: economics
11/07/07 10:40 - ID#42037
Oh, Jimbo Kramer
Communist, Eh?
Unregulated markets + Unscrupulous Businesses = Fleecing of the Common People. It was the Republicans that overturned most the Glass-Steagall Act of 1933 sometime in the 90's to get us to the brink of Financial Oblivion. Citing such catch phrases as , "Uncompetitive" "Burdensom Regulation" and "Free Markets" they unwound all of the safety nets, safeguards and other legislation that prevented such an event for almost 80 years.
Great, just what we need more deregulation. Big Business has everyone's best interest at heart. I'm not saying that going the other way is in our best idea. To balance things where people can take their shot and succed in the free market and yet have a social safety net underneath them is the ideal, i.e. Canada.
It's just that now that we are on the brink of a major recession/Depression the ugly truth of Capitalism is coming to the limelight. THE LOSERS PAY OFF THE WINNERS! It's a Zero sum game. For everyone that is going to be on the street due to their house getting foreclosed on there is some bank somewhere that took the other side of the trade that is going to make a mint.
As far as I am concerned the game is over. Economically speaking unless you have a lot of money in a foreign currency or precious metals your wealth is depreciating by the day literally. There will be some great changes in store for us in the future. Real change is going to occur now that the formerly middle class and upper middle class people are going to lose their "STUFF" en mass.
Get ready for economic bloodbath as this month moves closer to the end. We're fucked.
- My apologies if I sound like a raving lunatic...
Permalink: Oh_Jimbo_Kramer.html
Words: 294
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But of course you're right janelle... there are always emergencies that can mess everything up.
I hate debt too. We pay cash for everything too. We faithfully set aside the maximum amount we can in our Roth IRAs almost every month. We even use the envelope system. If the money isn't in the envelope, we don't buy it. But I'm not so arrogant as to believe that it's just about financial responsibility. It may well be that Drew and I are faced with financial insecurity in the future due to any a number of things that just happen in life.
Getting out of debt (or not getting in) is all about personal financial responsibility. And reading the fine print.
On a personal level though, I hate debt. Using cash for purchasing cars, fixing the house, appliances, etc has been my standard for a long time now. And I don't regret it.
However, I can say as an individual, I learned a long time ago that living below my means is the only way to be financially secure. As a result, I haven't paid a single cent of interest on my credit cards in years. I don't know what the debt figure is for the average American, but I can guarantee it won't ever apply to me.
I see it as taking part of recycling. I do my part.
(e:janelle) and I, on the other hand, were frugal before it was cool.